April 10, 2015
Tax break approved for Oxford hotel
The town of Oxford has approved a tax break for the developers of the $15.4 million Hampton Inn, which is being planned to be built across from the Oxford Casino.
The Sun Journal reported that the 15-year credit enhancement agreement will allow Quincy, Mass.-based GIRI Group LLC to be reimbursed for some of the taxes it pays on the property, though it can only be used for various infrastructure needs like water and sewer projects.
Under the deal, the town will take an annual 20% of the property’s increased taxes and put it into a special account for the developer. The total allocation will be $367,500.
Source: Sun Journal
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